Preview Questions Risk Assessment Analyst | Role Specific Skill

Question 1: What is the primary strategy for mitigating reputational risk in financial institutions?

Which action should you take?

Choose only one option

Focusing on legal compliance rather than operational integrity

Reducing customer interaction to avoid dissatisfaction

Maintaining high standards of transparency and ethical conduct

Limiting media exposure to only positive events

Question 2: What is the most common risk mitigation technique used to protect financial institutions from interest rate risk in the BFSI industry?

Which action should you take?

Choose only one option

Increasing short-term debt exposure

Investing in inflation-protected securities

Interest rate swaps

Bond ladders

Question 3: What is the best format for presenting historical trends in risk exposure?

Which action should you take?

Choose only one option

Bar chart

Tree diagram

Line chart

Heat map

Question 4: Which tool is most commonly used for ETL (Extract, Transform, Load) processes in risk data analysis?

Which action should you take?

Choose only one option

Power BI

Tableau

Apache Spark

Excel

Question 5: When a bank faces operational risk from its third-party vendors, what is the most effective mitigation strategy?

Which action should you take?

Choose only one option

Reducing reliance on vendors

Relying on internal audits

Strengthening contracts with performance clauses

Transferring risk to insurance providers

Question 6: When preparing a report with recommendations for risk mitigation, what should be included?

Which action should you take?

Choose only one option

Generic suggestions that apply to any situation without context

Specific action steps, responsible parties, timelines, and expected outcomes

A detailed explanation of all the methodologies used in the risk assessment process

A list of potential risks with no corresponding mitigation strategies